Corporate ActionsInvestment Education Plc
Frequent Asked Questions
No specific prior knowledge is assumed but delegates should have at least 3 months experience in the area. Delegates are assumed to have a basic awareness of equity and bond markets in general. Delegates should bring an ordinary pocket calculator with them to assist in the many exercises included.
- Background to Corporate Actions. Types, Actions and Critical Factors
- Debt v Equity. Implications.
- Outline of specialist instruments eg Preference shares, ADRs and international variations.
- Life Cycle of a Corporate Action
- Swift Corporate Actions Messages
- Bearer, Registered shares, Book entry securities. Dematerialisation and consequences
- Bonus or Scrip issues, Splits. Pricing calculations
- Reverse Splits and Consolidations. Calculations
- Demergers and Spin Offs
- Capital Raising or Rights issues. Pricing. Calculations of alternatives.
- Takeovers and Mergers. Why they occur. Process. Alternatives and selecting among them
- Bond Corporate Actions: Early Maturity. Partial Call. Bond Puts. Rating change.
- Dividend and Interest payment dates: Cum, Ex, Record, Payment
- Stock Dividends. DRIPs and Dividend Scrip Alternatives. Timing and Dates. Calculations
- Capital reduction methods: Buy Back, Tender, Return of Capital etc.
- Convertibles and Warrants. Why used
- Exchangeable bonds. Reverse Convertibles
- Pricing calculations for conversion or exercise
- Annual General Meeting. Voting rights and Proxies
- Class actions (USA)
- Section 793 notice (UK), previously Section 212